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needed to be taking care of. i don't think it has to be that way. i hope you won't get me wrong in my comments. i believe in the 401 k and we can fix it, we can get it right. but it requires fresh thinking. let me go into history about how we got here before talking about how we can fix the 401 k. 30 years ago i was a rookie in the retirement business and most companies offered employees a pension plan. the company made a promise to their employees to provide a specific monthly benefit when they reached retirement. the employer was responsible largely for funding that. they would make cash contributions into a plan and invest that money with a goal of making sure there was enough to fund promises they made. and they took their responsibility very seriously. they had to because if they fell short in accumulating the money to meet their promises, there was only one option, they wrote a bigger check into that plan reducing their profits and of course reducing returns for their shareholders. employers took that seriously enough they hired legions of advisors, consultants, accountants to h
't. and now they don't have the plan they were promised that they could keep. and another thing that's insidious that's going on below the surface, meeting after meeting, hours are being cut back, people are losing their jobs, they're getting less take-home pay because of obamacare. this is a problem all across america. the promise that you can keep your plan was never to be kept and they knew it and they continued to say it and it wasn't true. people are losing their plans, they're losing their coverage and they're losing access to the specialists that may save their lives. that's right. they won't be able to keep their doctors. they may. but if the doctor's out of network, there's no cap on what they will pay in terms of a deductible. so financially you take away their access to health care, the prices have gone up, the access and oh, by the way, in many cases they've lost their jobs or their hours have been cut back. the speaker pro tempore: the gentleman's time has expired. the gentleman from california is recognized. mr. waxman: mr. speaker, i yield two minutes to the gentleman
contractors or don't work at all. my fellow workers and i had families to support. we had seen how bad the economy was so we went along with it. . stidel and mr. morocco d.b.a., doing business as. i passed these instructions on to my wife and she did it. i was not incorporated. i didn't have business cards. i never operated a business. still, the d.b.a. would come back to haunt me because d.b.i. knew what they were doing. d.m.i.'s official address was mr. morocco's house. the actual business office was still rush's. i worked for d.m.i. for 2 1/2 years. there was training, daily instructions. i was supplied with building materials, power tools and other construction materials. when i made mistakes or didn't meet production quotas, i received a tongue lashing. so i was still treated the same as before, but instead of being an employee and receiving a w-2 at the end of the year, i received a 1099 form. there were no more deductions for my pay. i paid my portion of employment taxes and i paid b.m.i.'s as well. there were -- d.m.i.'s as well. there were no more health and pension benefits a
money for a new plan that they don't like. this is in addition to the newly created reinsurance fee of $510 a month for the company that has to pay, that has no value at all to the workers. mr. haeger wants to know why his employees are having their excellent health care plans canceled by obamacare. we must allow americans to keep the health care plans they like, not just for one year that has been proposed by the president, but permanently. i yield back. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from pennsylvania rise? mr. thompson: mr. speaker, i ask unanimous consent to address the house for one minute, revise and extend. the speaker pro tempore: without objection. mr. thompson: mr. speaker, it was a gamble for the president to promise the country if you like your plan, you can keep it. given that his health care proposal amounted to a complete restructuring of our health care system. and 16% of the american economy. by now every member of this chamber has received countless letters, phone calls and
the consequences to this nation will be dire if we don't turn this around. madam speaker, it is my prayer, it is my hope that this administration will turn from its stupid ways the arrogance that existed before obamacare kicked in, surely should have come down a notch so they can realize maybe we are making a istake in dealing with blood thirsty people in iran as well. this country's future is at stake. this ought to be enough to make this administration slow down and realize they are about to make another huge mistake that we will pay for for generations if they don't stop. iran will certainly not stop just as north korea did not. they have gotten help from north korea. they learned a lesson from north korea. it's time this administration learned a lesson from our mistake and the mistake from the clinton administration and madeleine albright. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. under the speaker's announced policy of january 3, 2013, the chair recognizes the gentlewoman from california, ms. speier for 30 minutes. ms. speier: everyone has heard
-existing conditions, sorry, you don't deserve and cannot purchase health insurance. 46 times republicans have told americans that if they reach their lifetime limits, that's just too bad. 46 times they've said if they want to keep medicare part d doughnut hole and keep medication unaffordable, that's the way it's going to be. mr. speaker, americans deserve access to affordable, quality health care. the speaker pro tempore: pursuant to clause 12-a of rule 1, the chair declares the house in recess until approx president obama is having senators from both parties over to the white house tomorrow. reuters reports they will discuss the nuclear program. ony are due to meet again wednesday. the u.s. and other suspected is aimed at developing atomic weapons. the pan -- the plan has been andsed by israel and france also by republicans and some of obama's fellow democrats in congress who argue more sanctions are needed. the impact of digital currencies will be examined. c-span will have more live coverage of that hearing. johnson love to show off the texas hill country and her home. it gets to the ranch wou
and willing buyers. i don't know what you could ask for to understand there is an opportunity that exists today to take action, so i am excited to be here. he mentioned immigration reform, and it is interesting, because we have seen an enthusiasmn terms of for comprehensive immigration reform. i wonder if you can say little bit about how that factors into our global competitiveness and the impact it would have in our economy. was meeting with one of the more important leaders in europe this past summer, and the leader said if the united states passes and immigration law, shame on the rest of the world because we are going to be the envy of the rest of the world. second, i do believe it would be dramatic in future growth rate of the united states. first and foremost we have 12 million people living in fear. if they have a path toward citizenship, think of the new houses that would be purchased. havef the difficulties we in trying to get visas for some of the smart foreigners graduating who are having a difficult time to be a permanent resident, may be to be a citizen here, so that process
anything good about someone, don't say anything at all. as a leader, he believed he should build and not tear down. reconcile, not divide. he stood for the principles of the diplomacy and mutual respect even toward his opposition. he did not subscribe to the politics of personal destruction . he was a representative of the great state of washington, as a legislator, bigger than his own personal values and ambition. he wanted to leave a record of accomplishment that would have a lasting impact on our society for generations to come. when he left the speakers chair, it was the end of an era in our history. maybe, just maybe, his passing at this moment in our history is just an eloquent reminder of one simple truth that no leader is and greater than the cause he serves and when our lives are over, we will be remembered not for fame nor fortune but for how we helped or harmed the dignity of all human kind. i will never forget this prince of a man who lead by example and struggled to turn the tide of partisanship with structured debate. every leader within politics or in larger societ
place on earth were the people don't know about jazz, he says. that is true in part because musicians like him have sacrificed so much to play it. we salute pioneers who pushed our nation towards greater justice and equality. c.t. viviannister, was one of martin luther king jr.'s closest advisers. it is in the action that we find out who we really are. time and again, reverend vivian was among the first to be in the action. in 1947, joining a set in -- sit-in in in illinois restaurant. one of the first freedom writers. he was beaten, bloodied and jailed. rosa parks said of him, even after things that supposedly have been taking care of and we had our right, he was still out there inspiring the next generation, including me, helping kids go to college with a program that would become upward bound. at 89 years old, reverend vivian is still out there, still in the action pushing us closer to our founding ideals. , the day of morning the march on washington, the national mall was far from full. some of the press were beginning to wonder if the event would be a failure. the march's chief
Search Results 0 to 8 of about 9